ProEngulfing

4.5

Pro Engulfing Indicator is professional indicator can detect qualified engulf patterns

Free version of ProEngulfing is QuallifiedEngulfing By One Signal Limitation per day and less features

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Introducing ProEngulfing – Your Professional Engulf Pattern Indicator for MT4 Unlock the power of precision with ProEngulfing, a cutting-edge indicator designed to identify and highlight qualified engulf patterns in the forex market. Developed for MetaTrader 4, ProEngulfing offers a meticulous approach to engulf pattern recognition, ensuring that you receive only the most reliable signals for your trading decisions

How ProEngulfing Works:

ProEngulfing operates through a sophisticated algorithm that goes beyond simple pattern recognition to analyze engulf patterns thoroughly. The indicator employs qualification criteria, evaluating the percentage of the body and shadow in relation to the entire candle size. This meticulous assessment ensures that only high-probability engulf patterns are highlighted. Additionally, ProEngulfing seeks continuity confirmation by identifying a sufficient number of continuous reverse bars preceding the engulf pattern, adding an extra layer of reliability. The indicator provides two-sided signals with In Direction and Reverse Direction modes, easily switchable using on-chart buttons. In Direction Mode displays engulf patterns on touch or retrace on the moving average line, while Reverse Direction Mode reveals bearish qualified engulf patterns occurring above the moving average by a specified distance, suggesting a potential market reversal. To enhance decision-making, ProEngulfing introduces a BackTest feature, allowing users to internally assess all generated arrows based on three different Risk-to-Reward ratios (RR). This feature provides a visual representation of win rates for each take profit level, streamlining the backtesting process.

Indicator Input Parameters:

    • Signal Mode: Choose between Both Mode, In Direction, or Reverse Direction.
    • Shadow Percentage: Set the percentage for the shadow in the engulf pattern.
    • Body Percentage: Determine the percentage of the body compared to the candle size.
    • After Number of Reverse Candle: Specify the number of consecutive reverse candles required before accepting an engulf pattern.
    • Stop Loss Margin: Set the stop loss margin for risk management.
    • Risk-to-Reward Ratios: Customize RR1, RR2, and RR3 for tailored risk management.
    • Atr Factor: Determine the minimum ATR distance factor for reverse signals.
    • Atr Period: Set the ATR period for volatility consideration.
    • Gravity Moving Average: Configure Moving Average settings, including period, applied price, and method.
    • Alert Settings: Enable or disable MT4 PopUp, Mobile, and Email alerts for timely notifications.

    FAQ

    How this indicator show patterns and entry signals ?

    Pro Engulfing fill bars by specific color , and draw up and down arrow to show you exact entry opportunity

    Is this indicator has repaint ?

    No there is no repaint in this product, all arrow will remain fix on chart, you can trust arrows.

    How our developer can detect signals and use them in Expert Advisor ?

    Very easy to use, buy and sell signals specified by 2 buffers,.

    Buy buffer number is 0 _ MQL Code to achieve this buffer is : double ProEngulfBuy = iCustom(Symbol(),PERIOD_CURRENT,"Market//ProEngulf.ex4",0,1);
    Sell buffer number is 1 _ MQL Code to achieve this buffer is : double ProEngulfSell = iCustom(Symbol(),PERIOD_CURRENT,"Market//ProEngulf.ex4",1,1);

    Do you have an idea and want to build your own product for mql5 market ?

    If yes, i can be your consultant and developer , i ll guide you how to improve your idea and release it in mql5 market, click on below link and hire me.

    https://www.mql5.com/en/job/new?prefered=ashkan.nikrou





    Reviews 2
    Aravind Kolanupaka
    9914
    Aravind Kolanupaka 2020.08.18 03:54 
     

    Very good with inbuilt trend filter.

    Fxpro Trader Technical
    1141
    Fxpro Trader Technical 2024.02.27 14:35 
     

    Seller finally responded which may take sometime so you need to be patience, indicator was ok, however there is deifnately room for improvement for example take profit price and levels which can be implemented along with SR zone for further confirmation to take the trade. Hoping to see further development and more quality work done to this indicator in the near future

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    Fxpro Trader Technical
    1141
    Fxpro Trader Technical 2024.02.27 14:35 
     

    Seller finally responded which may take sometime so you need to be patience, indicator was ok, however there is deifnately room for improvement for example take profit price and levels which can be implemented along with SR zone for further confirmation to take the trade. Hoping to see further development and more quality work done to this indicator in the near future

    Ashkan Hazegh Nikrou
    46729
    Reply from developer Ashkan Hazegh Nikrou 2024.03.01 13:54
    Hi sir, sorry for delay, i was on high working demand, seems you couldn't run indicator , just follow our description, as soon as run indictor, you need to see the arrows and buttons, i will send more help and guide in private for you.
    Aravind Kolanupaka
    9914
    Aravind Kolanupaka 2020.08.18 03:54 
     

    Very good with inbuilt trend filter.

    Ashkan Hazegh Nikrou
    46729
    Reply from developer Ashkan Hazegh Nikrou 2024.03.01 13:54
    Really appreciate for your + energy
    Reply to review